Public Enterprises Selection Board selected M Nagaraj (MD, NSKFDC, lien with IIFCL) for Chairman & Managing Director, Project and Equipment Corporation of India Ltd. The post fell vacant after the superannuation of A K Mirchandani. As many as 09 candidates appeared in the interview.
PEC was initially a subsidiary of State Trading Corporation of India and became an independent Company, directly under the Ministry of Commerce, on March 27, 1991. Primary businesses of the company are related to exports, imports, deemed exports, third country trading, arranging financing, logistics, project exports and management. It has evolved into initiator and intermediary, developer as well as facilitator for global trade.